Resident Success Stories: Bringing Nearly $600,000 Back to Our Communities
June 30, 2015
Nearly 250 families and individuals who live at Wakeland’s communities in San Diego County had a successful tax season this year thanks to the VITA tax preparation program, which garnered participants an average tax refund of $2,730. Offered as part of Wakeland’s Creating Opportunities for Resident Enrichment (CORE) program, VITA helps people prepare their tax filings to ensure they receive the proper refunds.
In total, this year nearly $590,700 was returned to our communities, primarily through the Earned Income Tax Credit (EITC), a program recognized as one of the most effective government initiatives to prevent poverty in America. The EITC has been proven to lift working low-income families up out of poverty by returning hard-earned money back to the millions of people who need it the most – yet it’s estimated nearly 20 percent of people who qualify are not aware of the EITC. VITA is a crucial tool for raising awareness about this tax credit among those who qualify, and it’s also a key part of Wakeland’s CORE Program.
“The VITA program is an important first step for Wakeland’s residents to start realizing it’s possible for them to build up savings from their income,” said Wakeland’s CORE Program Manager Angelica Munoz. “Once they see that refund, then they can start thinking about other ways to save their money to help them achieve important personal and professional goals.”
Wakeland hopes to build on residents’ successes from this year’s tax season by encouraging their participation in our new bank matching savings program – which rewards residents for making regular contributions to a savings account. Look for more news on this program, conducted in partnership with U.S. Bank and EARN in our upcoming newsletters.
Nearly 250 families and individuals who live at Wakeland’s communities in San Diego County had a successful tax season this year thanks to the VITA tax preparation program, which garnered participants an average tax refund of $2,730. Offered as part of Wakeland’s Creating Opportunities for Resident Enrichment (CORE) program, VITA helps people prepare their tax filings to ensure they receive the proper refunds.
In total, this year nearly $590,700 was returned to our communities, primarily through the Earned Income Tax Credit (EITC), a program recognized as one of the most effective government initiatives to prevent poverty in America. The EITC has been proven to lift working low-income families up out of poverty by returning hard-earned money back to the millions of people who need it the most – yet it’s estimated nearly 20 percent of people who qualify are not aware of the EITC. VITA is a crucial tool for raising awareness about this tax credit among those who qualify, and it’s also a key part of Wakeland’s CORE Program.
“The VITA program is an important first step for Wakeland’s residents to start realizing it’s possible for them to build up savings from their income,” said Wakeland’s CORE Program Manager Angelica Munoz. “Once they see that refund, then they can start thinking about other ways to save their money to help them achieve important personal and professional goals.”
Wakeland hopes to build on residents’ successes from this year’s tax season by encouraging their participation in our new bank matching savings program – which rewards residents for making regular contributions to a savings account. Look for more news on this program, conducted in partnership with U.S. Bank and EARN in our upcoming newsletters.
